Christian John P.

Formaran, CPA, MBA

Reviewed Teaching Assignment SY22-23
Calayan Educational Foundation, Inc.
COLLEGE OF BUSINESS ADMINISTRATION Reviewed by: 2022.08.21 23:04:16+08'00'

AND ACCOUNTANCY CHRISTIAN JOHN P. FORMARAN, CPA, MBA

Calayan Educational Foundation, Inc. College Dean
Lucena City Approved by:
FLEXIBLE LEARNING COURSE SYLLABUS KAREN J. CUSI, Ph.D
Vice-President for Academic Affairs
Course Classification: CORE ACCOUNTING EDUCATION
Course Code : AE13 Date of Approval:
Descriptive Title : FINANCIAL ACCOUNTING AND REPORTING
Christian John P. Formaran, CPA, MBA
Pre-requisites : NONE Teaching Assignment SY22-23
Calayan Educational Foundation, Inc.
Units :6 2022.08.21 23:03:46+08'00'
Prepared by : CHRISTIAN JOHN P. FORMARAN, CPA, MBA Updated: S.Y. August 2022-2023

VISION:
Established in 1973, Calayan Educational Foundation, Inc. shall be the premier institution of learning beyond the CALABARZON region for its exemplary
instruction, research driven programs and sustainability community extension services, vital to the health of, prosperity and peace in society.

MISSION:
Calayan Educational Foundation, Inc. aims to develop holistic, self-fulfilling, and productive citizens, actively engaged in national and international development,
imbued with values of honor, scholarship and service, deeply committed to raising the quality of man’s life.

Pursuing a legacy of academic excellence via innovative instruction, interactive technology, competent administrators, faculty and staff, CEFI shares in building a just,
stable and humane society.

CORE VALUES:
Honor, Scholarship, and Service

PROGRAM EDUCATIONAL OBJECTIVES (PEO)

A graduate of BS in Accountancy should be able to:

1. Become a competent and ethical professional accountant capable of making a positive contribution over their lifetimes to the profession and society in which they work.
2. Identify problem, know where to find this knowledge and know how to apply it in an ethical manner to achieve appropriate solutions.
3. Continue to learn and adapt to change throughout their professional lives.

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PROGRAM OUTCOMES (PO):

Students of the program are expected to:

a. Resolve business issues and problems, with a global and strategic perspective using knowledge and technical proficiency in the areas of financial accounting and
reporting, cost accounting and management, accounting and control, taxation and accounting information systems.
b. Conduct accountancy research through independent studies of relevant literature and appropriate use of accounting theory and methodologies.
c. Employ technology as a business tool in capturing financial and non-financial information, generating reports and making decisions.
d. Apply knowledge and skills to successfully respond to various types of assessments; and (including professional licensure and certifications)
e. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing functions as an accountant.

COURSE OUTCOMES CO):

At the end of the course, the students are expected to:
1. Review of the accounting principles and accounting process (Recording phase, summarizing phase, etc.) including the preparation of the financial statements
2. Perform the accounting for partnership and corporation (initial investments, operations, dissolution and liquidation)
.
COURSE DESCRIPTION:

This course provides a reinforcement of basic accounting, within the context of business and business decisions. Students obtain additional knowledge of the
principles and concepts of accounting as well as their application that will enable them to appreciate the production of accounting data. Emphasis is placed on
understanding the reasons underlying basic accounting concepts and providing students with an adequate background on the recording of transactions, their classifications
and reporting function of accounting in a service and trading concerns through the preparation of Statement of Financial Position, Income Statement, Statement of Changes
in Equity, and Cash Flow Statement . Exposure through the use of practice sets, either manual or computerized system (MS Excel, Quickbooks) in recording and reporting
transactions for service or trading firm is a requirement in this course. Toward the end of the course covering financial statements for corporation, there must be an
introduction to regulatory reporting in the Philippines for Corporations which will be discussed in detailed at Regulatory Framework and Legal Issues in Business.

COURSE REQUIREMENTS/GRADING: REFERENCES:

1. Published Textbook:
Major Examinations 60 % • Reyno, David & Reyno, Florencio Jr. Financial Accounting and Reporting Part 1
Midterm Examination 30% (Fundamentals of Accounting) 2019 edition. Reyno Publishing House
Final Examination 30% • Reyno, David & Reyno, Florencio Jr. Financial Accounting and Reporting Part 2
Quizzes 10 % (Partnership and Corporation Accounting). 2019 edition. Reyno Publishing House
Class Participation/Performance Task 15 % • Ballada, Win L., Basic Financial Accounting and Reporting. Made Easy Bookstore,
Project/Portfolio 10 % 2020.
Attendance 5% • Ballada, Win L., Partnership and Corporation. Made Easy Bookstore, 2018.
TOTAL 100 %
General Requirements for the Course - Portfolio

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 • Maintain a personal portfolio for the course (red expanded envelope) and 2. Online Resources Materials:
put all the written chapter exercises, drills, quizzes, etc. on it. a. Readings:
• Power point presentation/Learning Materials

b. Instructional Videos
• Recorded video lectures of presentation to be uploaded in the SILID LMS/
posted in Youtube and links will be uploaded in the SILID LMS.
• Video lectures and Presentations on Youtube.
MODE OF DELIVERY:

The 108 hours contact session in traditional classroom environment will be divided to 2 modes of lesson delivery: 36 hours of synchronous session via zoom
meeting or google meet/hangouts and 60 hours of asynchronous online learning modules, online quiz, online blog, internet research, online readings, etc. The remaining 12
hours will be allotted for assessment (Prelim, Midterm, Semi Finals and Finals).

Week Module No. Flexible Learning

Course Contents Online Course Resources/Learning Experiences Assessment
No. and Title Outcomes (FLO)
Week Module 1 At the of the lesson, Review of the Basic Accounting Readings Graded Recitation
1-2 Review of the the student is 1. Advanced reading of the course topics listed using the during face-to-face
(Aug Accounting expected to 1. General overview of the required textbook. Session.
16-26) Concepts and 1. Recall the accounting process.
Principles relevant 2. The Accountancy Limited Face-to-Face Session Quiz
concepts and Profession. 2. Face-to-face interactive discussion on August 17 & 24, Wed, August 24
principles in 3. The Generally Accepted 3-5pm.
basic Accounting Principles
accounting. (GAAP)
2. Discuss the 4. Purpose of the Accounting Asynchronous Session
Generally Standards 3. Watch video lecture to be uploaded in the SILID LMS and
Accepted 5. Overview of the Financial supplementary videos from CPA reviewers.
Accounting Statements.
Principles 6. Conceptual Frameworks Student Outputs
of Accounting. • Graded Recitation
• Quiz (Problem Solving and Theoretical Assessment)
• Assignment (Problem Solving and Theoretical
Assessment)

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Week Module 2 At the of the lesson, Review of the Accounting Readings Graded Recitation
3-5 Accounting for the student is Process for Sole 1. Advanced reading of the course topics listed using the during face-to-face
(Aug Sole expected to Proprietorship/Service Business required textbook. session.
29-Sept Proprietorship
16) (Service 1. Perform the 1. Identifying Recordable Limited Face-to-Face Session Quiz
Business) accounting Business Transactions 2. . Face-to-face interactive discussion on August 31, Sept 7and Aug. 31
cycle/procedures 2. Journalizing to the 14, 3-5pm. Sept. 7
(from identifying General Journal Sept. 14
business 3. Posting to the General
transactions to Ledger (or T-account) Asynchronous Session Practical
reversing entries) 4. Trial Balance Preparation 3. Watch video lecture to be uploaded in the SILID LMS and Drills/Assignments
5. Adjusting Journal Entries supplementary videos from CPA reviewers.
6. Use of Worksheet
7. Preparation of the Student Outputs Preliminary
Financial Statements • Graded Recitation Examination Sept
8. Closing Entries • Quiz (Problem Solving and Theoretical Assessment) 15/16
9. Post-Closing Trial • Assignment (Problem Solving and Theoretical
Balance Assessment)
10. Reversing Entries

Week 6 Module 3 At the of the lesson, Accounting for Merchandising Readings Graded Recitation
(Sept Accounting for the student is Business (Part 1) 1. Advanced reading of the course topics listed using the during face-to-face
19-23) Merchandising expected to required textbook. ssion.
Business Part 1 1. Major Activities in
1. Define the Merchandising business. Limited Face-to-Face Session Quiz – Sept 21
accounting terms 2. Account Titles applicable for 2. . Face-to-face interactive discussion on Sept. 21, 3-5pm.
for merchandising merchandising business
business. 3. Accounting for Sales and Asynchronous Session
2. Differentiate Purchases (in general) 3. Watch video lecture to be uploaded in the SILID LMS and
accounting for supplementary videos from CPA reviewers.
service and
merchandising Student Outputs
businesses • Graded Recitation
3. Perform the • Quiz (Problem Solving and Theoretical Assessment)
accounting for • Assignment (Problem Solving and Theoretical
merchandising Assessment)
Business

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Week Module 4 At the of the lesson, Accounting for Merchandising Readings Graded Recitation
7-8 Accounting for the student is Business (Part 2) 1. Advanced reading of the course topics listed using the during the face-to-
(Sept Merchandising expected to required textbook. face session
26- Business Part 2
October 1. Perform the 1. Accounting for Freight Limited Face-to-Face Session Quiz
7) completing the a. FOB Shipping Point 2. . Face-to-face interactive discussion on Sept. 28 and October Sept. 28
accounting cycle for b. FOB Destination 5, 3-5pm. October 5
merchandising 2. Accounting for Merchandising
business (from beginning to end) Asynchronous Session
2. Prepare financial 3. Accounting with VAT 3. Watch video lecture to be uploaded in the SILID LMS and
statements for application supplementary videos from CPA reviewers.
merchandising 4. Financial Statement
business Preparation for Merchandising Student Outputs
3. Accounting for Business • Graded Recitation
merchandising with • Quiz (Problem Solving and Theoretical Assessment)
Value-Added Tax • Assignment (Problem Solving and Theoretical
Application

Week 9 Module 5 At the of the lesson, Special Journals Readings Graded Recitation
(Oct Special Books the student is 1. Advanced reading of the course topics listed using the during the face-to-
10-14) of Original expected to 1. Special Journals required textbook. face session.
Entry a. Sales Journal
1. Define special b. Cash Receipts Journal Limited Face-to-Face Session Midterm
journal. c. Purchases Journal 2. . Face-to-face interactive discussion on October 12, 3-5pm. Examination
2. Differentiate the d. Cash Disbursements Journal October 13/14.
kinds of special Asynchronous Session
journals. 2. Control Accounts and Subsidiary 3. Watch video lecture to be uploaded in the SILID LMS and
3. Record transactions Ledgers. supplementary videos from CPA reviewers.
using special
3. Record business transactions
journals. Student Outputs
using special journals.
• Graded Recitation
• Quiz (Problem Solving and Theoretical Assessment)
• Assignment (Problem Solving and Theoretical

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Week Module 6 At the of the lesson, Introduction to Partnership Readings Graded Recitation
10- Partnership the student is 1. Advanced reading of the course topics listed using the during the face-to-
11(Oct Introduction expected to 1. Basic Characteristics of required textbook. face session.
17-28) Partnership.
1. Define Partnership, 2. Underlying Equity Theories Limited Face-to-Face Session Quiz
its nature and 3. Advantages and Disadvantages 2. . Face-to-face interactive discussion on October 19 and 26, October 19 & 26
characteristics. of a Partnership. 3-5pm.
2. Identify the 4. Essential features of a
Advantages and partnership. Asynchronous Session
Disadvantages of a 5. Kinds of partner. 3. Watch video lecture to be uploaded in the SILID LMS and
6. Organizing Partnership.
partnership supplementary videos from CPA reviewers.
7. Articles of Co-Partnership
3. Differentiate the
8. Obligations among Partners.
kinds of partnership Student Outputs
Property Right of a Partner.
and partners. • Graded Recitation
• Quiz (Problem Solving and Theoretical Assessment)
• Assignment (Problem Solving and Theoretical

Week Module 7 At the of the lesson, Partnership Formation Readings No face-to-face

12 Partnership the student is 1. Advanced reading of the course topics listed using the discussion this
(Oct. Formation expected to 1. Partnership Accounting required textbook. week due to
31- 2. Partners’ capital and drawing holiday/academic
Nov. 4) 1. Explain the accounts Limited Face-to-Face Session break.
partnership 3. Partners’ loan and receivable 2. . No face-to-face discussion this week due to
accounting. accounts holiday/academic break.
2. Perform the 4. Opening entries of a partnership
accounting for formation Asynchronous Session
partnership formation 5. Sole Proprietorship Converted 3. Watch video lecture to be uploaded in the SILID LMS and
into Partnership
supplementary videos from CPA reviewers.
6. Two sole proprietorship joined to
form an partnership.
7. Methods of Recording Partner’s Student Outputs
Investments • Graded Recitation
a. Net Investment Method • Quiz (Problem Solving and Theoretical Assessment)
b. Bonus Method • Assignment (Problem Solving and Theoretical
c. Goodwill Method

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Week Module 7 At the of the lesson, Partnership Operations and Readings Graded Recitation
13-14 Partnership the student is Dissolution 1. Advanced reading of the course topics listed using the during the face-to-
(Nov. Operations & expected to required textbook. face session.
7-18) Dissolution Partnership Operations
1. Discuss the concept 1. Distribution of Profit or Losses Limited Face-to-Face Session Quiz
of accounting for and its rules. 2. . Face-to-face interactive discussion November 9 and 16, 3- Nov. 9 & 16
partnership 2. Methods of Profit Distribution. 5pm.
operations. 3. Notes on Profit or Loss Semi-final
2. Perform the Distribution agreements. Asynchronous Session Examination -
accounting for 4. Closing Entries for Partnership 3. Watch video lecture to be uploaded in the SILID LMS and Nov. 17/18
operations.
partnership supplementary videos from CPA reviewers.
Operations.
Partnership Dissolution
3. Identify the Student Outputs
1. Definition of partnership
different reasons for dissolution. • Graded Recitation
partnership 2. Cause of partnership dissolution. • Online Quiz (Problem Solving and Theoretical
Dissolution 3. Other cases of partnership Assessment)
4. Perform the dissolution. • Assignment (Problem Solving and Theoretical
accounting for
partnership
dissolution.
Week Module 7 At the of the lesson, Partnership Liquidation Readings Graded Recitation
15 Partnership the student is 1. Advanced reading of the course topics listed using the during the face-to-
(Nov. Liquidation expected to 1. Definition of Liquidation. required textbook. face session.
21-25) 2. Types of Liquidation.
1. Define Partnership 3. Liquidation Procedure. Limited Face-to-Face Session Quiz – Nov. 23
Liquidation. 4. Right of Offset 2. . Face-to-face interactive discussion November 23, 3-5pm.
2. Identify various 5. Lumpsum Liquidation
reasons for 6. Lumpsum and Installment Asynchronous Session
partnership Liquidation. 3. Watch video lecture to be uploaded in the SILID LMS and
liquidation. supplementary videos from CPA reviewers.
3. Perform the
accounting for Student Outputs
partnership • Graded Recitation
liquidation. • Quiz (Problem Solving and Theoretical Assessment)
• Assignment (Problem Solving and Theoretical

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Week Module 8 At the of the lesson, Corporate Formation Readings Graded Recitation
16 Corporate the student is 1. Advanced reading of the course topics listed using the during the face-to-
(Nov. Formation expected to 1. Corporation defined. required textbook. face session.
28-Dec 2. Characteristics of a Corporation.
2) 1. Define Corporation 3. Similarities and differences Limited Face-to-Face Session Quiz – Nov. 30
and terms related to it. between partnership and 2. . Face-to-face interactive discussion November 30, 3-5pm.
2. Differentiate the corporation.
partnership from 4. Advantages and disadvantages of Asynchronous Session
corporation. corporation. 3. Watch video lecture to be uploaded in the SILID LMS and
3. Differentiate the 5. Classification of Corporations supplementary videos from CPA reviewers.
6. Powers of Corporations.
various types of
7. Components of Corporations.
corporations. Student Outputs
8. Articles of Incorporation and By-
laws. • Graded Recitation
9. Stockholders’ Equity • Quiz (Problem Solving and Theoretical Assessment)
10. Other Stock terms • Assignment (Problem Solving and Theoretical

Week Module 9 At the of the lesson, Accounting for Capital Readings Graded Recitation
17-18 Accounting for the student is Transactions 1. Advanced reading of the course topics listed using the during the face-to-
(Dec 5- Capital expected to required textbook. face session.
16) Transactions 1. Methods of Accounting for
(Including 1. Explain the various Stock Transactions Limited Face-to-Face Session Quiz on Dec. 7
Retained methods for stock 2. Issuance of Capital Stock for 2. . Face-to-face interactive discussion December 7 & 14, 3- and 14
Earnings) transactions. cash and noncash considerations. 5pm.
2. Perform the 3. Cash Subscriptions
accounting for various 4. Share premium Asynchronous Session Final Examination
corporate transactions. 5. Discount on share capital 3. Watch video lecture to be uploaded in the SILID LMS and Dec. 15/16
6. Delinquent subscriptions
3. Perform the basic supplementary videos from CPA reviewers.
7. Highest Bidder
of the financial
8. Accounting for ordinary and
statement analysis preference shares
Student Outputs
9. Treasury shares, Donated shares • Graded Recitation
10. Incorporation of a partnership. • Quiz (Problem Solving and Theoretical Assessment)
• Assignment (Problem Solving and Theoretical
Retained Earnings, Dividends
and Book Value per Share

1. Retained earnings account

2. Dividends

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 3. Liquidating Dividends on
Wasting Asset Corporation
4. Liquidation Value
5. Presence of Subscribed and
Treasury Shares.

Basic of the Financial Statement

Analysis
1. Review of the financial
statements.
2. Horizontal Analysis
3. Vertical Analysis
4. Financial Ratios

ALIGNMENT OF THE PROGRAM EDUCATIONAL OBJECTIVES TO THE INSTITUTION MISSION STATEMENT:

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 Graduates of the BS Accountancy Program are men and women who: Mission Key Words
A B C D
Professionally Holistically- Service- Ethically
Competent Trained Oriented Responsible
a. Become a competent and ethical professional accountant capable of making a positive contribution over / / / /
their lifetimes to the profession and society in which they work.
b. Identify problems, know where to find this knowledge and know how to apply it in an ethical manner to / / / /
achieve appropriate solutions.
c. Continue to learn and adapt to change throughout their professional lives. / / / /

ALIGNMENT OF PROGRAM EDUCATIONAL OBJECTIVES TO PROGRAM OUTCOMES

Graduates of the BS Accountancy Program are men and women who: Program Educational
Objectives
a b c

a. Resolve business issues and problems, with a global and strategic perspective using knowledge and / / /
technical proficiency in the areas of financial accounting and reporting, cost accounting and management,
accounting and control, taxation and accounting information systems.
b. Conduct accountancy research through independent studies of relevant literature and appropriate use of / / /
accounting theory and methodologies.
c. Employ technology as a business tool in capturing financial and non-financial information, generating / / /
reports and making decisions.
d. Apply knowledge and skills to successfully respond to various types of assessments; and (including / / /
professional licensure and certifications)
e. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical / / /
practice in performing functions as an accountant.

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ALIGNMENT OF COURSE OUTCOMES TO PROGRAM OUTCOMES

PROGRAM
COURSE OUTCOMES COURSE OUTCOMES
LEVEL OUTCOMES
proficiency assessed by
Satisfied
a. Review of the accounting principles and accounting process (Recording phase, summarizing
phase, etc.) including the preparation of the financial statements. Oral and Written Exams (Theories), Quiz,
L a, b, e
Recitation

b. Perform the accounting for partnership and corporation (initial investments, operations, , Problem Solving Quiz, Graded Recitation
dissolution and liquidation). L a, c, d, e (Explaining the derived figures/amounts),
Written Examination

ALIGNMENT OF COURSE CONTENTS TO COURSE OUTCOMES

COURSE CONTENTS COURSE OUTCOMES

a b
a. Review of the Accounting Concepts and Principles /
b. Accounting for Sole Proprietorship (Service Business) /
c. Accounting for Merchandising Business Part 1 /
d. Accounting for Merchandising Business Part 2 /
e. Special Books of Original Entry /
f. Partnership Introduction /
g. Partnership Formation /
h. Partnership Operations & Dissolution /
i. Partnership Liquidation /
j. Corporate Formation /
k. Accounting for Capital Transactions (Including Retained Earnings) /

- NOTHING FOLLOWS -

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